Federation of State Medical Boards
Legal name: Federation of State Medical Boards of the United States Inc
Nonprofit profile at a glance
- EIN
- 751092490
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Euless, TX, US
- Phone
- (817) 868-4000
- Rating confidence
- Limited
- Sector
- Research Institutes and/or Public Policy Analysis
Reported finances
- Revenue
- $67,031,105
- Expenses
- $65,290,835
- Assets
- $115,939,404
- Liabilities
- $26,380,487
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
29 people listed
Executive titles in this filing
- HUMAYUN CHAUDHRY (CEO)
Highest reported compensation
- HUMAYUN CHAUDHRY (CEO): $878,709 total reported compensation
- MICHAEL DUGAN (CIO): $489,862 total reported compensation
- LISA ROBIN (CAO): $457,472 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To support state medical boards in their mission to protect the public's health, safety, and welfare through the promotion of excellence in medical regulation.
What it reported doing in 2024
Special purpose examination (spex) and united states medical licensing examination (usmle): the federation makes available to member medical boards, a uniform, high quality examination for medical licensure along with administering the exams. Approximately 97 spex exams were completed and 38,283 examinees sat for step three of usmle. Also, approximately 113,294 transcript requests were processed.
Operating model
- Revenue model
- Other-operating. 94% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 90
- Accountability: 84
- Sustainability: 47
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 80%; rating input score 80; 28th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 2.6%; rating input score 46; 46th percentile among comparable filings
- Total-asset coverage ratio: 1.78; rating input score 59; 59th percentile among comparable filings
- Liabilities to assets ratio: 0.23; rating input score 65; 65th percentile among comparable filings
- Officer compensation ratio: 7.8%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.2% per year; rating input score 100; 34th percentile among comparable filings
- Asset growth: 10.2% per year; rating input score 100; 71st percentile among comparable filings
Details
- What they do: 7 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 12 of 15 board members independent · 8 of 9 filing controls reported
- Programs: 4 filed program accomplishments
- Leadership: top reported pay $879K · 29 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $907K reported
- Consistency: 12 of 12 current checks pass
- Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 27 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Sustainability: Operating margin scored 46/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Review — Sustainability: Total-asset coverage ratio scored 59/100.
- High — Sustainability: Officer compensation ratio scored 6/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.